Friday,07 March 2025 16:32:59

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Friday,07 March 2025 at 16:29

UK & European market closed mixed as after a choppy day of trading as investors digested the latest monetary policy decision from the European Central Bank.

Wall Street stocks were in the red early on as investors digested last month's all-important non-farm payrolls report.

Gold prices edged up, poised for a weekly gain on safe-haven inflows and a U.S. jobs report revealing lower than expected job growth in February, suggesting the Federal Reserve is on track to cut interest rates this year.

Oil prices extended gains, buoyed by the Russian Deputy Prime Minister's suggestion that OPEC+ could reverse its output increase after April, but were still on track for a more than 3% weekly decline on concerns over U.S. tariff policies.

In corporate news, Dutch-American music record label Universal Music Group impressed with its fourth-quarter results, with strong subscription revenues driving top-line growth above analysts' expectations.

Group revenues were up 7.9% at constant currency (CC) to €3.43bn for the three months to 31 December, with growth reported across all major business segments.

The company, whose top sellers during the three months to 31 December included Taylor Swift, Sabrina Carpenter, Billie Eilish, Chappell Roan and Wicked: The Soundtrack, reported total recorded music revenues of €2.57bn, up 6.8% on the year in CC terms.

Markets

the close

FTSE 100 8,679 (-0.04%)

FTSE 250 20,113 (-0.23%)

DAX 23,084 (-1.42%)

16:30

Dow Jones 42,454 (-0.29%)

S&P 500 5,712 (0.46%)

NASDAQ 17,972 (-0.53%)

Fixed Income

UK 10-YR YIELD 4.614

Exchange Rates

GBP/USD 1.291

GBP/EUR 1.190

Commodities

Gold $2,917 +0.23%

Brent $70.33 +1.28%

Important - No news or research item should be construed as a recommendation to trade. The inclusion of securities within this report does not necessarily imply their suitability for individual portfolios or situations in respect of which further advice should be sought. Information contained in this report has been compiled from sources believed to be reliable but is not warranted to be accurate or complete.